Picanol NV announced consolidated earnings results for the first half year of 2016. For the period, on consolidated basis, the company reported sales of EUR 329,707,000 compared to EUR 259,799,000 a year ago. EBITDA was EUR 70,020,000 compared to EUR 43,179,000 a year ago. EBIT was EUR 66,889,000 compared to EUR 40,203,000 a year ago. Profit before taxes was EUR 67,354,000 compared to EUR 40,721,000 a year ago. Share of the group in profit was EUR 60,384,000 or EUR 3.41 per basic and diluted share compared to EUR 42,028,000 or EUR 2.37 per basic and diluted share a year ago. Net cash flow from operating activities was EUR 38,856,000 compared to EUR 15,540,000 a year ago. Acquisitions of intangible fixed assets were EUR 248,000 compared to EUR 7 million a year ago. Acquisitions of tangible fixed assets were EUR 3,138,000 compared to EUR 4,192,000 a year ago.

The company expects to achieve an increase in turnover in 2016 of approximately 10% compared to 2013.